Short, Simple and Interesting FAQs
Stamp Duty BSD is tax paid on documents signed when you buy or acquire property located in Singapore. Manner of Acquisitions Examples of property acquisition in which stamp duty is payable: By way of purchase e.g. acceptance to option to purchase, sale and purchase agreement By way of gift including a voluntary declaration of trust … Read more
Sample Calculation for Tax Residents Example 1: 35 year-old with employment income of $50,000 Mr Heng is 35 years old, married, with a 10-month old son. He earned $50,000 in 2020. He has a newborn child and is eligible for Parenthood Tax Rebate of $5,000. His chargeable income for the Year of Assessment (YA) 2021 is computed as follows: Total … Read more